GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Designed to be the end of tactical planning
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A plan designed to reach long-term objectives
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A specific, narrow plan designed to achieve tactical planning
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None of the above
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Detailed explanation-1: -A strategy describes how the ends (goals) will be achieved by the means (resources). Strategy can be intended or can emerge as a pattern of activity as the organization adapts to its environment or competes. It involves activities such as strategic planning and strategic thinking.
Detailed explanation-2: -Strategic planning is a long-term process (one plan can span five to ten years). It’s a continuous process that focuses on the overall organisational direction.
Detailed explanation-3: -A long-term strategic objectives plan includes a SWOT analysis. That means examining the internal strengths (S) and weaknesses (W) of the company, as well as the opportunities (O) for advancement and threats (T) to the company’s well-being. Each heading should have several items listed under it.
Detailed explanation-4: -What is a long-term strategy? A long-term strategy is a comprehensive plan for a business that defines goals for the future. During this process, you’re setting and completing goals to achieve an overarching goal for the company.